Watu, a leading African asset financing company, has partnered with Nodle (NODL), a global blockchain innovator, to leverage smartphones for real-time asset tracking. This collaboration aims to revolutionize asset security and financial inclusion across Africa.
Boosting Boda Boda Security and Financial Inclusion
The partnership focuses on enhancing the location tracking of Watu’s fleet of boda bodas (motorcycles used for public transport) in East Africa. Nodle’s Decentralized Physical Infrastructure Network (DePIN) utilizes hundreds of thousands of smartphones, offering a cost-effective and secure solution compared to traditional asset tracking methods.
Benefits for Watu and Boda Boda Owners:
- Improved Asset Security: Real-time location data deters theft and provides peace of mind for boda boda owners.
- Supporting Financial Inclusion: Enhanced security strengthens Watu’s business model, allowing them to provide loans to individuals with limited access to traditional credit.
Wider Impact and Expansion Plans:
- The partnership begins in Uganda this month and will expand to Kenya, Tanzania, Nigeria, and other African nations.
- Watu gains access to Nodle’s expertise in cryptography, mobility, and blockchain, while Nodle benefits from Watu’s vast network in emerging markets.
- This collaboration paves the way for further innovation in Africa, leveraging smartphones for impactful solutions.
Quotes:
- Micha Benoliel, CEO and Co-founder, Nodle: “We are proud to empower Watu’s mission and contribute to Africa’s development. The Nodle app’s demand is surging in emerging markets, and this partnership significantly boosts our African network deployment.”
- Gunars Bidins, Head of GPS Tracking, Watu: “This collaboration offers cost-effective and efficient asset tracking, ensuring the safety and security of our assets across Africa. The Nodle network’s scalability perfectly fits our needs, and we believe it can revolutionize asset tracking in Africa.”
Nodle Network’s Potential:
The Nodle network’s capabilities extend beyond asset tracking. Existing applications include:
- Combating Misinformation: Authenticating digital content like photos and videos.
- Supply Chain Management: Tracking shipping pallets and other high-value assets.
- Fleet Management: Locating vehicle fleets for corporations.
- Asset Recovery: Assisting insurance providers in locating stolen vehicles.
This partnership between Watu and Nodle marks a significant step towards leveraging smartphones for innovative IoT solutions in Africa. It has the potential to inspire further advancements and empower businesses and individuals across the continent.
